Cheddar: Why One Group of Millionaires is Speaking Out Against the GOP Tax Plan

Nonpartisan assessments of the GOP tax plan show that the group who stands to benefit the most, if it passes, are the wealthy. So it came as a surprise when a group of millionaires came out against the GOP tax plan. Patriotic Millionaires is a group of wealthy Americans who believe that the wealthy should pay a larger percent of taxes compared to the rest of America.

Pierce Delahunt is a member of Patriotic Millionaires. He joins Cheddar with a look at why he and his contemporaries believe taxes should be higher for the wealthy.

Delahunt specifically believes the estate tax needs to be changed. He says it only benefits a tiny portion of Americans, but saves them an exorbitant amount of money.

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The Patriotic Millionaires is a group of high-net worth Americans who are committed to building a more prosperous, stable, and inclusive nation. The group focuses on promoting public policy solutions that encourage political equality; guarantee a sustaining wage for working Americans; and ensure that millionaires, billionaires, and corporations pay a greater percentage of taxes.